118 N Grandview Street, Mount Dora, FL 32757 (MLS # G5108730)

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View Virtual Tour PRICE $1,289,000 BEDS 5 BATHS 4 HOME SIZE 2,543 sqft LOT SIZE 16,989 sqft Request More Info Schedule a Showing

This is a nearly completed downtown Mount Dora compound offering three separate living spaces and the ability to live, rent, or create income in one of the most walkable locations in the area. Located just two blocks from the heart of downtown Mount Dora, this fully rebuilt property presents a rare opportunity to own a flexible, multi-living space property in one of the most desirable areas of the Historic District. This is more than a home, it is a property designed for the way people live today. The property includes a main residence of approximately 2,023 square feet, an attached in-law suite of approximately 520 square feet with a private entrance, and a detached ADU of approximately 504 square feet with a full kitchen and bath. This layout creates multiple opportunities including the ability to live in the main home while utilizing the additional spaces for rental income, extended stays, or guests. The in-law suite and detached ADU offer flexibility for short-term or long-term rental use, subject to City of Mount Dora regulations, zoning, and licensing requirements. The property is also ideal for multi-generational living, providing privacy and separation for each space, or for use as a home office, studio, or business setup. Based on market data and short-term rental trends in the Mount Dora area, average nightly rates are approximately $175 to $205 with average occupancy between 40% and 55%. Typical short-term rental revenue ranges from approximately $2,200 to $3,500 or more per month, with top-performing properties exceeding $5,000 per month. Long-term rental estimates for the in-law suite range from approximately $1,400 to $1,900 per month, and the detached ADU from approximately $1,500 to $2,200 per month. Actual income will vary based on management, occupancy, seasonality, and compliance with City of Mount Dora regulations, and buyers should verify all use and rental potential. Thoughtfully reimagined through a full structural rebuild, this home now features new electrical, plumbing, HVAC, roof, and high-end finishes throughout, offering the charm of Mount Dora with the confidence of modern construction. Inside, you will find vaulted ceilings, quartz countertops, high-end appliances, and a clean, open layout designed for both everyday living and entertaining. Situated on an oversized lot of approximately 0.39 acres, the property offers space, privacy, and flexibility while remaining within walking or golf cart distance to dining, shopping, waterfront views, and year-round events. Properties like this, offering multiple living spaces, income potential, and walkable downtown access, are extremely rare in Mount Dora. Whether you are looking for a primary residence, an income-producing property, or both, this opportunity stands out in today's market.